Browsing: MRA

Medical disqualification

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Q. I will be 52 and have 29 years of technician service (32 years National Guard) under FERS. If I was diagnosed with a medical condition that ended my military career, would I be eligible for the non-reduced pension/Social Security Offset/ and access to my TSP, since I have 25 years, I am age 50 and would be losing my military position through no fault of my own?

Supplement calculation

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Q. As a retired federal law enforcement officer who earned a law enforcement retirement under FERS, I am approaching my 56th birthday. Since the SRS supplement will be discontinued or reduced at age 56 (MRA), I am curious as to how this amount is calculated? I am aware it will be reduced for anything I earn over $15,480 annually, not counting my pension. Will OPM send me an inquiry, or is this something I am supposed to submit? Do they base it on my earnings when I turn 56, or the previous year’s earnings? I would like to keep the…

FERS and VERA

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Q. If I accept a VERA with just over 30 years of service under FERS at age 54 and with just under 18 months to go before I reach 56 or my MRA, would I still be immediately eligible at early separation for the special retirement supplement under a VERA, or do I have to wait until I turn 56? A. The special retirement supplement will begin when you reach your MRA.

Pre-MRA retirement annuity, and where sick leave goes

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Q. I am 51 and was born in 1961. I work in FERS. My MRA, I believe, is 56. I have 28 years in federal service. Will I get an annuity if I retire now before my MRA? If I do get an annuity, how big a reduction will it be from the pension I would get if I retired at 56? Also, I have seven months of sick leave. Do I lose it all when I retire, or does it get applied as service credit?

Retirement and rehiring under FERS

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Q. I am a 51-year-old Defense Department employee with 13 years of continuous service under FERS and am considering relocating out-of-state and working in the private sector. Since my MRA is 56, I am not eligible for the optional (voluntary) retirement or MRA+10. My plan is to apply for a deferred annuity and leave my FERS retirement untouched after separation to avoid benefit reductions. However, I plan on returning to federal service. Having recently attended the FERS midcareer retirement planning workshop, I am aware of the pros and cons of each retirement option. More specifically, under MRA+10, FEHB and FEGLI…

FERS combined employment time

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Q. I left civil service with just shy of 21 years of combined time (bought back 14 years of military) in November 2011 at age 44 (1967). I did not withdraw any money from FERS, but I moved my TSP to an annuity. My intent was to just apply for a deferred retirement at age 62 to avoid penalties. However, if I returned to Civil Service before 62, how many years would I have to work to be eligible for full health benefits under FERS? I also assume that if I returned by age 47 and worked until 56, I…

Special category employee retirement and new income

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Q. I am 51 and retired with 22 years with the Federal Bureau of Prisons. In our agency, we could retire at age 50 with 20 years of service or at any age with 25 years of service. Our maximum retirement age is 57. I thought I understood from retirement training that in our special circumstances, earnings rules did not apply until we reached age 57, or when we would have been forced to retire. In other words, after early but full eligibility retirement, we could work and we would not be penalized or limited with new income, in that…

Retirement age and fund eligibility

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Q. I plan to retire at age 57 (MRA) with 25 years of service. I want to avoid the yearly 5 percent penalty by postponing the receipt of annuity. Will I start receiving my annuity and Social Security supplement at age 60? A: No, to both questions. To avoid the age penalty, you’d have to postpone the receipt of your annuity to age 62, when you would no longer be eligible for the special retirement supplement.

Military service and federal service and retirement

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Q. I served on active duty (Army, O-4) for 12 years and had four years in the Guard enlisted time during college. Do my 16 years qualify me for any benefits under FERS once I reach 65? Does it make sense for me to try to get a job in the federal government to work for five more years and reach the magic 20? A: First, if you got a civilian job, you would have to work for 5 years to be vested in the retirement system. Second, to get credit for active-duty service, you’d have to make a deposit…

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